BTL™ Announces Increase in Marketed Financing to C$10.7 Million

press

Nov 3, 2017

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

BTL GROUP LTD. (TSX VENTURE:BTL) (“BTL” or the “Company”) is pleased to announce that, as a result of strong investor demand, it has increased the size of its recently announced brokered offering (“Offering”) led by GMP Securities L.P. (“GMP”) by C$4,701,599. Under the new terms of the amended Offering, GMP has agreed to raise a total of approximately C$10,701,600 through the offering of approximately 2,184,000 units of the Company (the “Units”) at an issue price of C$4.90 per Unit. Each Unit is comprised of one common share of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Common Share at an exercise price of C$7.00 per Common Share for 12 months following the closing of the Offering.

This Offering is in addition to the C$4,600,000 non-brokered private placement of Units announced by BTL on November 1, 2017 and November 2, 2017 (the “Non-Brokered Offering”).

BTL intends to use the proceeds from this Offering and the Non-Brokered Offering in connection with final development of Interbit™, BTL’s proprietary third generation blockchain platform, and towards general and administrative expenses.

Closing of the Offering is expected to occur on November 23, 2017, or such other date as GMP and the Company agree.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT BTL™ AND INTERBIT™

Listed on the TSX Venture Exchange (TSX VENTURE:BTL) and operating from both Canada and the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary third generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated how Interbit can innovate and transform existing business processes for leading companies in the finance, energy and gaming sectors.

Interbit is a fast, private, and scalable inter-connected blockchain platform. Via its suite of APIs and smart contracts, Interbit allows businesses around the world to improve efficiency in trading and operations, accelerate development of internal systems, and embrace new revenue generating opportunities, while providing the high levels of security, resilience and auditability required in regulated enterprise environments.

With offices in Vancouver and Calgary, Canada and London, UK, BTL is positioning itself as a front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in order to improve their existing IT systems.

Certain statements in this release are forward-looking statements, which include completion of the Offering and the anticipated use of proceeds. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL’s technologies and products, as well as those risk factors discussed or referred to in BTL’s annual Management’s Discussion and Analysis for the year ended December 31, 2016 available at www.sedar.com, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.